European stocks rise as global selloff eases; Natwest up 7%

LONDON — European markets were higher on Friday as a global stock selloff eased and investors awaited a U.S. inflation print.

The pan-European Stoxx 600 was last 0.53% higher, with most sectors and major bourses in the green.

Mining and oil and gas stocks led gains and were last up 1.47% and 1.43% respectively, while food and beverage stocks retreated by 0.5%.

Autos recouped losses made earlier in the day and were last up 0.41%, after Germany’s Mercedes Benz said it was narrowing its annual profit margin forecast.

NatWest rose as much as 7% after the British bank reported that its pretax operating profit fell by less than expected in the first half of the year.

European equities have closed lower for the last two sessions amid a sharp downturn in technology stocks, with Wall Street’s tech-heavy Nasdaq Composite down more than 3% this week.

Overall, Stoxx losses have eased from last week, when the regional index recorded its worst performance since October.

The biggest item on the data front Friday is the U.S. personal consumption expenditures price index, due at 8:30 a.m. ET, as investors seek more support for high expectations for a September rate cut. Economists polled by Dow Jones expect the headline figure to come in at 2.5% annually and 0.1% monthly.

Asia-Pacific markets largely rebounded Friday, as Tokyo’s headline inflation slowed slightly to 2.2% in July from 2.3% in May. U.S. stock futures were higher in the early hours.